Jones Lang LaSalle Americas (JLL) has announced that it has listed for sale the Cencora headquarters building on behalf of the building’s owner PRP Real Assets. Cencora is the building’s sole tenant, and has has 10 more years on its current lease. A price to acquire the building was not made publicly available.

Please note, that this does not mean anything regarding Cencora occupying the building. The building was purchased as an investment and is being sold as an investment opportunity.

The building was the key component of the redevelopment of lower Fayette Street that was completed in 2021 and was branded SORA West. In addition to the 11-story, 429,122 square foot office building, there is a 127 room hotel that was constructed connected to a historic firehouse that features two restaurants, a 1,500 vehicle parking garage, and a plaza that hosts events and a farmers’ market.

Brett Segal and Matt Blumberg of JLL’s Capital Markets Investment Sales and Advisory team were quoted in an article on CityBiz.co about the opportunity. From the article:

“Rarely does a recently delivered headquarters asset for a Top 10 Fortune 500 Company come to market,” said Segal. “SORA West’s Tier 1 quality and undisputed mixed-use location not just within Conshohocken but the entire Philadelphia region make this a particularly compelling investment opportunity.”

“SORA West is one of only a handful of trophy office buildings constructed in the Philadelphia market over the past five years. With no significant new development on the horizon, the property is strategically positioned as a flagship asset in the region for years to come,” added Blumberg.

You can read the full CityBiz.co article here.

Photo: JLL